One of Housing's Most Influential Women Joins eXp. Here Are Five Trends She Says Agents Should Be Watching.
Former NAHREP president and industry icon, Carmen Mercado just swapped corporate real estate for eXp.
Most people deal with a bad real estate agent by complaining to their friends and moving on. Carmen Mercado took a completely different route. After a terrible homebuying experience with her military veteran husband, she decided to get her license and do the job better herself.
That was back in 2002. At the time, Carmen was working on Wall Street. But following the events of September 11, she decided it was time for a career change. Fueled by her desire to spend more time with her children, Carmen began her real estate journey.
That decision became the foundation for a career that has stretched far beyond buying and selling homes.
Over the past two decades, Carmen has served as a broker, trainer, growth strategist, New York Department of State-certified real estate instructor, and corporate leader focused on housing and affordable lending. She went on to become National President of the National Association of Hispanic Real Estate Professionals (NAHREP), was recognized by HousingWire as one of the 25 Most Influential Women in the Housing Economy, and was named an Inman 100 Most Influential Real Estate Leaders finalist.
Now, Carmen is bringing that experience to eXp Realty as a real estate agent.
She says it was a combination of leadership and timing that made the move feel right.
"I have a tremendous level of respect for Leo Pareja," Carmen says. "Before he was named CEO of eXp, I followed his journey and growth. His focus on building businesses while staying humble and true to his family values aligned with what I was building."
As she developed the next chapter of her own business, she also noticed something else happening throughout her professional network.
"I kept seeing many industry professionals within my network moving over to eXp," she says. "Agents at the top of the pack, developing properties, building, and sharing their expertise were moving over. There is a buzz at eXp, and the support has confirmed I made the right move."
But while Carmen's move to eXp marks a new chapter, it's her outlook on the industry that may be most valuable to fellow agents. Drawing from years spent working across housing finance, brokerage leadership, and national real estate organizations, she believes several trends are already beginning to reshape the business.
Five Trends Carmen Mercado Says Agents Should Be Watching
1. Keep an Eye on REOs. They're Not Back, but the Conversation Is.
Carmen isn't predicting another foreclosure crisis. In fact, she's quick to point out that distressed properties remain at historically low levels. But she does believe the early signs are worth paying attention to.
Recent reports from ATTOM show foreclosure activity has climbed roughly 20%, while bank-owned properties (REOs) are up about 30%. While those numbers may sound alarming, Carmen says context matters. The increases are coming off historically low levels, making this less of a warning sign and more of an opportunity for agents who prepare before the rest of the market catches on.
"While the broader market remains resilient, agents and brokers must monitor shifting inventory trends," Carmen says. "This isn't about an immediate market upheaval. It's about being prepared."
She believes inflation is putting increasing pressure on lower-income households, creating subtle changes that agents should begin tracking now, even if they aren't seeing them in their own backyard yet.
For Carmen, that means looking beyond your local MLS. A broker in New York, for example, should also pay attention to markets like Florida or South Carolina, where migration patterns and distressed inventory could create opportunities for clients looking to relocate or invest.
"If they do want to become an agent that can work with asset management companies or private equity firms with REO portfolios, then they should start implementing systems that can help them service their clients," she says.
Carmen doesn't believe REOs will become the right business for every agent. But she does believe the agents that educate themselves now, build the right systems, and understand the space before demand increases will be in a much stronger position if the market shifts.
2. The Next Generation of Homebuyers Will Look Different Than the Last.
When Carmen thinks about where the next major opportunity for agents will come from, she doesn't point to a specific price point or property type. She points to demographics.
According to the latest NAHREP Hispanic Homeownership Report, Latino household formation continues to be one of the strongest drivers of housing demand in the United States. As the country's population becomes increasingly diverse, Carmen believes agents who understand these buyers and their unique needs will be better positioned for long-term success.
"If you look at household formation growth, the next generation continues to be more diverse, with Latinos being a driving force within the housing market," she says.
For agents, that means looking beyond today's transactions and paying attention to where tomorrow's buyers are coming from. Building relationships within growing communities, understanding cultural nuances and becoming a trusted resource now could pay dividends for years to come.
3. AI Isn't Replacing Agents. It's Raising Consumers' Expectations.
Artificial intelligence has become one of real estate's hottest topics, but Carmen believes many conversations are missing the bigger picture.
Rather than focusing on whether AI will replace agents, she believes the more important question is how it will reshape the experience consumers expect.
"I think there is a focus on streamlining the process and organizational structures to lower the cost for buyers and create more efficiencies," she says.
She points to companies like Carvana, which transformed the car-buying experience by allowing consumers to purchase vehicles almost entirely online.
"I never thought I would see someone buying or selling a car from their own driveway, but Carvana accomplished just that."
While buying a home is significantly more complex, Carmen believes the same expectation for convenience, speed, and transparency is already making its way into real estate. Agents that embrace AI to improve communication, simplify workflows, and create a smoother client experience will likely have an advantage over those who resist the change.
"Those who jump all in to truly understand AI and how to leverage it will be ahead of the game."
4. The Best Agents Aren't Just Selling Homes. They're Building Businesses That Can Adapt.
Markets change. Interest rates change. Consumer behavior changes.
That's why Carmen believes agents should be thinking beyond a single source of income.
"In my opinion, agents should start diversifying their income streams," she says.
Whether that means expanding into land, commercial real estate, investment properties or other asset classes, Carmen says agents who broaden their expertise will be better equipped to navigate future market cycles.
She also noticed another common thread among many of the country's highest producers during her years leading NAHREP and working alongside top-performing agents nationwide.
"They are hyper-focused on working their strengths and getting support for all the rest," she says. "They understand that they are running a business, even as a solo agent."
The agents who consistently rose to the top weren't trying to do everything themselves. They built systems, followed up consistently, leveraged the tools available through their brokerage and surrounded themselves with people who challenged them to grow.
"They master their craft, they invest in their growth and business."
5. The Companies That Make Buying a Home Easier Will Win.
Ask Carmen where she sees the biggest opportunity over the next decade, and her answer isn't luxury housing or a specific market.
It's simplicity.
"I think the biggest opportunities will come from simplifying the purchase and lending process for consumers," she says.
Buying a home remains one of the most complicated financial transactions most people will ever make. Carmen believes the companies and professionals who can remove friction, increase transparency and make that journey easier will ultimately earn consumers' trust.
"Streamlining the process can lead to cost savings for buyers and sellers, and in a market with high home appreciation rates, this will be a key focus for many."
For agents, that means staying informed, understanding what's happening beyond their local market and remaining engaged with the policies and organizations shaping housing.
"Stay informed, connected with what is happening not only in your state but also in other markets," Carmen says. "Get involved, keep up to date with local ordinances, be engaged, and share your expertise with decision makers."
After more than two decades spent working across nearly every corner of the housing industry, Carmen believes that agents who prepare for change instead of reacting to it will be the ones best positioned for whatever comes next.
Watching What's Next
Ask Carmen what ties all of these trends together, and the answer isn't REOs, AI or demographic shifts. It's preparation.
Throughout her career, she's found that the agents who thrive aren't necessarily the ones who predict every market change perfectly. They're the ones who prepare before opportunity arrives.
It's why one quote has stayed with her over the years: "Luck is what happens when preparation meets opportunity."
As she begins her next chapter at eXp Realty, it's a philosophy she hopes more agents will embrace.
